IP/host name, username and password are correct but you get Access Denied when tyring to log in.
Try disabling this setting:
Putty has GSSAPI enabled by default.

Turn it off if you are not using Kerberos (and chances are, you are not in your environment).
Explanation:
I dealt with a few weeks back with when a new administrator could not
login to any ssh host with putty - even the one that I know should be
working for him. It seems that with GSSAPI Auth enabled, Putty will
attempt to login with non-existent kerberos credentials, which resulted
in an immediate Access Denied message.
[...]
Source: http://serverfault.com/questions/317781/putty-access-denied